The financial sector seems to be taking the bitcoin boom seriously. Goldman Sachs is studying to start trading with this currency. And it is expected to reach $ 6,000 before the end of the year.
Bitcoin is no longer a cyberpunk utopia and a curiosity for geeks. The financial sector and governments have finally opened their eyes and are beginning to take it seriously. While central banks are struggling to curb bitcoin by creating their own criptomonedas , financial institutions are joining efforts around the R3 initiative , a consortium created to explore the development of blockchain technology. And insurers do the same through Blockchain Insurance Industry Initiative (B3i).
Earlier this week we also learned that Goldman Sachs is exploring the possibility of trading with bitcoins and other digital currencies, as reported by CNBC . However, much of the big Wall Street ‘gurus’ still despise this currency. For example, Jamie Dimon, CEO of JPMorgan calls it a “stupid fraud.” And investor Howard Marks compares it to a “pyramid scheme.”
Meanwhile, this criptodivisa does not stop raising in its quotation. If we had invested 5 dollars in the purchase of 2,000 bitcoins in 2010, today we would have 8.76 million dollars, since in those 7 years the currency has gone from being worth a quarter of a cent to the 4,380 dollars in which it moved in the day of Friday. In addition, the experts consider that could reach a value of 6,000 dollars before the end of the year, as collected by CNBC . If these forecasts are met, it would represent a growth close to 37% in the last months of this year.
But the volatility of this currency also gives investors doubts. Not in vain, the bitcoin was quoted in January at 966 dollars, reason why it has tripled with ease its value in what we carry of year. In the heat of this situation, Crédito y Caución published this week the results of the survey that has carried out between the almost 8,000 economists, professors, analysts, directors of communication and economic journalists who are part of the #twecoscommunity in Twitter.
The results can not be more disconcerting. The 38% of economic tuiteros think that is a financial bubble like the one that exploded with tulip bulbs seventeenth century. In the opposite sense, 26% of respondents believe that it is the currency of the future and they think it will continue to appreciate. The remaining 35% do not choose either position, but believe that the volatility of bitcoin is not at odds with its technology being called the basis of the currency of the future.